SWITCH 2023 spotlights new game changers

SWITCH 2023 is expecting to attract around 15,000 in-person attendees from over 100 countries, a 50 per cent increase from last year. This would be a record, showing the global community’s recognition of the immense power of technology and innovation.

The three-day event brings together corporates, investors, and startups from across the global innovation ecosystem to address the pressing issues of the present day. New areas of focus for this year include AI, climate-focused innovations, and growth opportunities for startups.

During his address at the opening ceremony, Singaporean Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat said that many major challenges across the world require in-depth research and new technologies.

“This is true whether we aim to achieve net-zero emissions and make an effective energy transition to tackle climate change, deal with ageing populations across the world, or combat new viruses and bacteria that threaten human lives and livelihoods,” he said.

“Many innovations will happen at the convergence of different domains, crossing the traditional boundaries of scientific disciplines,” added DPM Keat.

Deep tech is set to rewrite the current landscape and bring the next wave of innovation.

Many years of intensive research into understanding messenger RNA (mRNA) enabled some innovative companies to develop new vaccines that helped the world combat and emerge from the COVID-19 pandemic. It is fitting that the 2023 Nobel Prize in Medicine was awarded to Dr. Katalin Karikó and Dr. Drew Weissman for their groundbreaking research into how mRNA interacts with the immune system.

Similarly, many breakthroughs in AI have revolutionised the way we process information.

OpenAI’s ChatGPT4 captured the public's imagination the world over when it was released in November 2022. Less than a year later, there is growing anticipation that ChatGPT-5 could bring about even bigger transformations. Other companies are also working on Generative AI.

“If done well, deep tech will create entirely new industries, new value chains, and new jobs. Given its potential, interest and investments in deep tech have risen sharply around the world,” the Singaporean leader said.

Asia’s challenges and needs are enabling stakeholders to make impactful developments. For instance, while the need to address climate change is global, the region faces its own specific difficulties.

Asia is home to more than 4.7 billion people, or around 60 per cent of the total global population. Its economies are diverse, all at different stages of development, and growing in vibrancy.

The Asian Development Bank estimates that the collective effect of climate change, if left unchecked, could shrink developing Asia’s GDP by 24 per cent by 2100.

At SWITCH 2023, deputy prime minister Keat announced the launch of the Fifth Sustainability Open Innovation Challenge. Aiming for an even greater impact, this fifth edition will have a regional scope.

According to Singapore, since it started SWITCH in 2016, the impact of science, technology, and innovation in reshaping the global economy has grown to be even greater.

Today, Singapore is home to about 4,500 tech startups, supported by a network of more than 400 venture capital firms and 220 incubators and accelerators.

As technology and innovation power the next wave of growth, Singapore seeks to be a Global-Asia node of technology and enterprise, connecting developments across the region and around the world. SWITCH was conceived as one of the drivers to make this happen.

SWITCH 2022 Singapore spotlights opportunities for collaboration in innovation The Singapore Week of Innovation and Technology (SWITCH) 2022 opened on October 25, galvanising collaboration in innovation and cross-border partnerships.

Singapore expands Global Innovation Alliance The Global Innovation Alliance (GIA) network has grown to include Abu Dhabi and Seoul, helping Singapore-based tech startups and small- and medium-sized enterprises (SMEs) link up with partners and access more opportunities in the two markets.

Doors open for Vietnam-Singapore innovation ties Bilateral trade relations between Vietnam and Singapore in digital transformation, economy, and innovations are expected to further deepen. In September, both countries reaffirmed the relations and welcomed the strong and multi-faceted progress under the Singapore-Vietnam Strategic Partnership. At the sidelines of the Singapore Week of Innovation and Technology, Gan Kim Yong, Singapore’s Minister for Trade and Industry, talked to VIR’s Bich Thuy about new innovative business.

Innovation charms in Singapore In anticipation of favourable policies in Singapore, innovators from Vietnam and regional countries are flocking to this country, pinning high hopes on the commercialisation of breakthrough innovations.